The Congress party has expressed confidence that it would be able to take on board various political parties for the passage of amendments to the important legislations in insurance and pension sectors.

Party spokesman Rashid Alvi said that the government will go ahead with the yesterday's cabinet decisions and also succeed in getting the bills passed in Parliament.

Meanwhile, the BJP wanted to have a look at fine print of the proposed amendments.

Talking to AIR party spokesman Prakash Javdekar said pension funds are hard-earned money of the labour and there should a sovereign guarantee. He, however, made it clear that his party is in favour of major reforms in the fields of infrastructure and governance.

On the other hand, the CPI(M) has opposed the government move to raise the cap on Foreign Direction Investment, FDI, in the insurance sector from 26 per cent to 49 per cent and allow 49 per cent FDI in pension funds.

A Polit Bureau statement issued in New Delhi, said that the move will make country’s finance sector more vulnerable to speculative finance capital.